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Janus Goes on the Defensive

Citigroup and Boeing are top positions, and several managers keep cash cushions.

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As lousy performance and outflows continue to plague many Janus funds, Janus' investment committee acknowledged in the firm's April 30, 2001, shareholder report that many of the funds had stuck with their aggressive positioning a bit too long.

"In retrospect, we certainly could have reacted more quickly to the rapidly changing economic landscape," they wrote. However, the committee, made up of firm founder Tom Bailey and top Janus brass like Scott Schoelzel and Helen Young Hayes, also said that the firm's managers aren't abandoning the fast-growing companies that the firm's research still shows to have strong fundamentals. 

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Catherine Hickey does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.